Air Products and Chemicals (NYSE:APD) Rating Increased to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Air Products and Chemicals (NYSE:APD) from a market perform rating to an outperform rating in a report released on Friday, Marketbeat reports. The firm currently has $375.00 target price on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets increased their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. Finally, Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $340.50.

Air Products and Chemicals Trading Up 0.1 %

Shares of APD stock opened at $335.36 on Friday. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $338.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm has a market capitalization of $74.58 billion, a PE ratio of 19.52, a PEG ratio of 3.46 and a beta of 0.84. The stock has a fifty day simple moving average of $310.29 and a two-hundred day simple moving average of $298.99.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.14%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

Hedge Funds Weigh In On Air Products and Chemicals

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC increased its holdings in Air Products and Chemicals by 3.8% during the fourth quarter. Global Retirement Partners LLC now owns 9,868 shares of the basic materials company’s stock valued at $2,862,000 after buying an additional 361 shares during the period. Bank of Jackson Hole Trust purchased a new position in Air Products and Chemicals during the fourth quarter valued at approximately $69,000. Mcdonald Partners LLC increased its holdings in Air Products and Chemicals by 3.9% during the fourth quarter. Mcdonald Partners LLC now owns 4,753 shares of the basic materials company’s stock valued at $1,379,000 after buying an additional 177 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Air Products and Chemicals by 13.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,482 shares of the basic materials company’s stock valued at $2,170,000 after buying an additional 900 shares during the period. Finally, Ramsay Stattman Vela & Price Inc. increased its holdings in Air Products and Chemicals by 4.3% during the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 15,793 shares of the basic materials company’s stock valued at $4,581,000 after buying an additional 646 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.